USNN World News

Economy

Trump officials recommend executive action as stimulus talks break down

by USNN World NewsAugust 7, 2020August 7, 2020

Economy

US employers hire 1.8M despite new COVID-19 shutdowns

by USNN World NewsAugust 7, 2020December 5, 2024

Economy

GOP senators pitch extending extra unemployment aid through end of year

by USNN World NewsAugust 6, 2020August 6, 2020

Economy

Capital One slapped with $80M fine for 2019 data hack

by USNN World NewsAugust 6, 2020August 6, 2020

Republicans and Democrats are trying to find a middle ground on several provisions in order to pass another coronavirus stimulus package, including whether to repeal a $10,000 cap on state and local tax deductions. Senate Minority Leader Chuck Schumer, D-N.Y., unveiled a proposal in mid-July along with Congressman Tom Suozzi, D-N.Y., to fully restore the deduction in the next relief package. However, Republicans have traditionally opposed repealing the cap – which was implemented as part of the 2017 Tax Cuts and Jobs Act – arguing that it primarily favors wealthy individuals in high-tax states, which have been accused of budget mismanagement prior to the pandemic. SALT CAP REPEAL THE 'SINGLE BEST' ACTION TO HELP NEW YORK, CUOMO SAYS Earlier this week, Senate Majority Leader Mitch McConnell blamed Democrats for holding up the package over “’an unrelated tax cut for rich people.” The Kentucky Republican made similar comments at the end of July. Schumer has maintained that the bill needs to support state and local governments. CORONAVIRUS HIT HIGH-TAX STATES RENEW SALT CAP REPEAL EFFORTS While the Republican-sponsored HEALS Act does not adjust the measure, House Democrats approved a stimulus proposal in May that called for reinstating the SALT deduction for 2020 and 2021. Repealing the cap could be helpful in high-tax states as they consider how to return to business as usual once the coronavirus crisis subsides. It has caused an exodus from these higher-tax states, which has, in turn, resulted in a loss of state tax revenues. “We need to bring our federal dollars back home and cushion the blow this virus –and this harmful SALT cap--has dealt so many homeowners and families locally,” Schumer said in a statement. Suozzi added that families would leave New York without the measure. The White House has repeatedly pushed back at efforts to overturn the provision for years. A legal challenge that was launched by New York, New Jersey, Connecticut and Maryland is making its way through the courts. CLICK HERE TO READ MORE ON FOX BUSINESS A handful of local officials have been outspoken about repealing the provision, including New York Gov. Andrew Cuomo, who is trying to get Manhattan’s wealthiest taxpayers to return to the city. Cuomo said in May that repealing the cap would be the “single best piece of action” to help the state, claiming it costs New York state about $29 billion per year. New Jersey Gov. Phil Murphy also said undoing the cap would be a form of “main street stimulus.”

Economy

In SALT cap stimulus square-off, lawmakers squabble over $10,000 deduction limit

by USNN World NewsAugust 5, 2020August 5, 2020

Economy

McConnell open to extending $600 unemployment boost in coronavirus stimulus deal

by USNN World NewsAugust 5, 2020August 19, 2024

Economy

McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion

by USNN World NewsAugust 5, 2020August 5, 2020

Economy

Stocks rally as slow coronavirus-relief talks move in ‘right direction’

by USNN World NewsAugust 4, 2020December 5, 2024

Economy

White House considering unilateral actions with coronavirus aid bill stuck in Congress

by USNN World NewsAugust 3, 2020August 3, 2020

Economy

Democrats, White House still at odds over extra coronavirus unemployment benefits

by USNN World NewsAugust 2, 2020August 2, 2020

Economy

Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill

by USNN World NewsAugust 1, 2020August 1, 2020

Economy

Trump says second stimulus check could be ‘way higher’ than $1,200

by USNN World NewsJuly 30, 2020July 30, 2020

NATIONAL NEWS

Trump Makes Surprise Appearance at Dog Rescue Fundraiser

By Ivan Pentchoukov Former President Donald Trump made an unannounced visit to a dog rescue fundraiser in Palm Beach on Friday. “I didn’t exactly prepare for this, but I was ...

New Hampshire will confiscate voting machines that ‘shorted’ Republicans by 6% of votes

By Raymond Wolfe A Democratic candidate for state representative, Kristi St. Laurent, meanwhile, received 99 more votes than were actually cast for her. CONCORD, NH – ...

Cuomo Says He Won’t Resign, Blames ‘Cancel Culture’ for Calls to Step Down

By Jack Phillips New York Gov. Andrew Cuomo on Friday said he again will not resign from office after more than a dozen New York Democratic U.S. representatives ...

90,000 Ballots in Largest Nevada County Sent to Wrong Addresses, Bounced Back: Report

By Petr Svab More than 90,000 ballots mailed to registered voters in Nevada’s largest county were returned undeliverable, according to an analysis of the election ...

Entire Staff Quit Nevada Democratic Party After Socialists Take Leadership: Report

By Gary Du All the staff of the Nevada Democratic Party quit after Democratic Socialist (DSA) candidates took over leadership positions. On Saturday, Judith Whitmer, who ...

Five People Charged With Voter Fraud in Illinois: DA’s Office

By Jack Phillips Five people are being accused of various election fraud-related cases during the Nov. 3 election, according to the DuPage County State’s Attorney’s Office ...

Trump Builds Leverage for ‘Overhaul’ of GOP With Fundraising Gambit

By Ivan Pentchoukov Former President Donald Trump over the last two weeks laid the foundation for exerting financial leverage over the Republican Party apparatus by instructing supporters to donate ...

Trump Jr. Claims Cheney Allies Are Working to Defeat Wyoming Senate Bill on Election Runoffs

By Ivan Pentchoukov Donald Trump Jr.. said on March 9 that allies of Rep. Liz Cheney (R-Wyo.) are working to derail a Wyoming bill that would establish a primary runoff election ...

Trump Says ‘No More Money for RINOs,’ Asks Supporters to Donate to His PAC and Website

By Ivan Pentchoukov President Donald Trump issued a fiery statement on Monday night calling on his supporters to no longer give money to Republicans who oppose his ...

Biden Admin Officials Had Roles in Probes, Surveillance of Trump Campaign

By Jeff Carlson News Analysis As Joe Biden constructs his new administration, individuals from the Obama administration are quietly resurfacing in positions of power. Some of ...

Biden Sued by 12 States Over Climate Executive Order

By Jack Phillips President Joe Biden was sued by 12 states over a climate change-related executive order, saying it has the potential to severely impact states’ economies. State attorneys ...

Former Intelligence Director: Special Counsel Durham Agreed, No Intel Showing Trump-Russia Collusion

By Zachary Stieber Former U.S. Attorney John Durham agreed that there was no intelligence showing collusion between former President Donald Trump or his campaign and ...